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Protecting Your Business in the World’s Most Phished Country

The UK is the world’s most phished country. That’s right; this small island – home to little over 60 million people – gets fleeced out of more money online than countries such as the United States, which has a population of 316 million, and India, a country of 1.2 billion.

Figures from cyber security experts RSA and its Anti-Fraud Command Centre (AFCC) put UK losses at $405 million, from close to 250,000 phishing attacks in 2012, shows this report in The Guardian.

More data from Detica and the Cabinet Office shows that cybercrime amounts to a massive £27 billion in annual losses, with £21 billion of that total lost by businesses.

Phishing is a practice that involves sending out random emails that are purported to be from genuine company’s (mostly banks) in an attempt to dupe unsuspecting victims into handing over sensitive information. Generally, these emails will inform users that passwords need updating or verifying and will ask them to click on a link that leads to what looks like a legitimate website. All details that are then entered on that website will be obtained by criminals.

According to RSA’s Technical Lead of Knowledge Delivery, Limor Kessem, the UK is targeted because: ‘It's just worth it. Most fraudsters are from countries where the currency is way, way lower.

‘The problem with the UK is that more people use the internet, more people have technology’.

Combatting the problem

Bank systems are notoriously difficult to attack, which is why criminals opt for the phishing method to defraud businesses and consumers. In an effort to combat the problem, the banking industry has introduced additional security measures such as two-factor authentication and has started working with the Police Central e-Crime Unit (PCeU), Serious Organised Crime Agency (SOCA), the National Fraud Authority and others to help prevent customers becoming the victim on cybercrime.

Looking out for number one

While it is good news that banks are taking an active stand on phishing and cybercrime in general, protecting yourself and your business from fraudsters has to start with you.

Installing ITWiser’s Cloud Web Security is the best way to ensure your business does not become a target of online criminals. Our service employs a comprehensive anti-phishing system, as well as antivirus protection and URL content filtering, to safeguard your company computers against the threat of cybercrime.

Protect yourself; do not rely on someone else. Get Cloud Web Security today.

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